Technicolor revenues down 1.1%

Technicolor has reported revenues of €3.45 billion from continuing operations in 2013, down 1.1 per cent from €3.49 billion in 2012.

The technology group said that connected home and digital creative services were the key growth drivers for the year. Revenues fell in the technology segment from a record high in 2012. EBIT from continuing operations decreased to €226 million from €263 million, mainly due to a €39 million increase in restructuring costs. Technicolor made a €92 million net loss, compared with a €22 million year-on-year net loss, including costs related to a refinancing for an amount of €161 million

Frederic Rose, Chief Executive Officer of Technicolor, commented: “2013 was a banner year for Technicolor where we delivered strong operational performance, which made it possible for us to invest in growth areas for the company and continue to generate lucrative intellectual properties. All of this puts well on target to deliver on our Amplify 2015 objectives.”